NORCROSS, GA– Wells Core Office Income REIT has acquired the Bridgestone building in Bloomingdale, Ill., its second office property in as many months. The property serves as divisional headquarters for Bridgestone Corp.’s retail operations, and is leased to the tire giant through November 2018.
Built in 2001, it contains 71,000 square feet and is located at 333 East Lake Street, near Chicago O’Hare International Airport and adjacent to the famous Medinah Country Club (middle left photo).
Wells acquired the property from Hamilton Partners in a negotiated transaction. The REIT made its first acquisition last month, in suburban Dallas.
“This makes two quality properties in a month for this new portfolio,” said Don Henry (top right photo), chief real estate officer of Wells Real Estate Funds, advisor to the REIT.
“We’re very pleased to be in metro Chicago, one of the country’s top business centers, with a high-quality corporate tenant like Bridgestone.”
Wells was represented internally by Peter Mitchell, senior vice president, Capital Markets. Hamilton was represented by Jones Lang LaSalle. Terms were not announced.
For more information, see http://www.wellsref.com/;
for more information on Wells Core REIT, visit http://www.wellscorereit.com/
Media Contact: Margot Olcay, Rubenstein Associates, (212) 843-8284 molcay@rubenstein.com
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